Punjab and Sind Bank Education Loan

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Punjab and Sind Bank Education Loan Summary Table

Punjab and Sind Bank Education Loan Amount	For India – INR 10 Lacs For Abroad – 20 Lacs (Up to ₹ 7.5 lakh without collateral)
Punjab and Sind Bank Education Loan Interest Rate	9.65% per annum
Punjab and Sind Bank Education Loan Margin	For loan above INR 4 Lacs In India: 5% In abroad: 15%
Punjab and Sind Bank Education Loan Processing Fee	Up to INR 4 Lacs: Nil Above INR 4 Lacs: INR 5000
Punjab and Sind Bank Education Loan Security	Up to 7.50 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third-party guarantee above INR 7.50 Lacs: Tangible security along with parents as co-borrower
Punjab and Sind Bank Education Loan Repayment	It starts After 1 year of course completion or 6 months after getting the job

*Rates and schemes are subject to change

Punjab and Sind Bank Education Loan Features

Searching for the best banks for education loans?

Need money to fulfil your dreams?

As Education is becoming costly, pursuing your educational goals is one of the most difficult things to face right now. At Dialabank, we offer you different options of banks that you can use for educational loans.

Punjab and Sind Bank Education Loan aims to provide financial assistance at the best feasible interest rates to students. With a good amount of loans, you can either stay in India to pursue your course or go to a different country for the best education.

Punjab and Sind Bank Education Loan Eligibility Criteria

Parameters	Eligibility Criteria
Applicant’s Age	Not required
Who Can Apply?	Any Indian national who has secured admission to any renowned Indian or Foreign University
Maximum Loan Amount	In India – a maximum of ₹10 lakh is required Abroad – a maximum of ₹20 lakh is required
Frequency Of Repayment	Quarterly or monthly rests. It starts 1 year after completing the course of six months after getting a job, whichever is first. Loan interest re‐payment will start immediately after disbursement of the first instalment of the loan.
Repayment Period	Up to 7.5 lakh – 10 years. Above 7.5 lakh – 15 years.

Punjab and Sind Bank Education Loan Interest Rates

Scheme	Maximum Loan Amount	Interest rate (p.a.)
Punjab and Sind Bank’s Education Loan for Indian Education	Up to Rs.20 lakh	9.55% – 13.25%
Education loan for Foreign Education	No Upper limit	9.55% – 13.25%

Punjab and Sind Bank Education Loan Schemes with detailed features, docs, max loan, courses

Punjab and Sind Bank Education Loan Documents Required

Under Know Your Customer Policy (KYC), the bank requires certain documents.

These documents might be required from both the student and co-borrower:

Identity Proof	One of any mentioned documents for Identity proof: PassportPAN CardAadhaar CardVoter’s ID CardDriving LicencePhoto Credit CardCentral and State Govt. issued Photo ID ProofDefense ID Card.
Residence Proof	One of the following documents for Residence proof (It should not be more than 3 months old): Aadhaar CardRation CardPassportBank Account StatementVoter’s ID CardLetter from any recognized public authorityTelephone BillElectricity BillWater Bill
Income Proof in case of salaried co-borrower	Salary Slips (not more than 3 months old)Bank Statements (not more than 3 months old)ITRForm-16 (for the last 2 years)bank account statement (for the last 6 months of salary account)
Income proof for self-employed co-applicant	Business address proof returns for the last two years (If IT payee)TDS certificate form 16A if applicable certificate of qualification (for CA, doctor, and other professions)Bank account statement for the last 6 months.

Additional documents: Aside from KYC documents:

Student Applicant	Mandatory Passport submission
Academic Records: X, XII grade results. Graduation results semester wise. Entrance Exam results that formed the basis of admission
Proof of admission: A conditional application letter may be considered
Cost of education, schedule of expenses.
2-passport size photographs
If the loan was taken out before then, loan account statement for the last 1 year.
Co-applicant	2-passport size photographs
If the loan was taken out before then, loan account statement for the last 1 year.

Punjab and Sind Bank Education Loan Courses Eligible

Under Graduate Courses	B.Com, B.A, B.Sc, Diploma, B.B.M & B.C.A and others
Professional Degrees	Engineering, Medical, Agriculture, Nursing, Veterinary, Law, Dental, Management, Computer, Pharmacy, Physiotherapy, Hotel Management, ICWA, CA, CFA, and other professional courses.
Professional Courses from Reputed Institutions	IIT, IIM, XLRI, NIFT, well-reputed foreign universities offering courses in India.
Programs offered by Private Universities	All courses/degrees recognized by UGC / GOVT. / AICTE /AIBMS / ICMR

Overseas Studies

Graduation	Technical/professional courses by renowned universities
Post-Graduation	Special courses like MBA, MS, MCA & Courses by CIMA & CPA

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Punjab and Sind Bank: Takeover of Education Loan

An Education Loan is Transferable; it is basically a process of transferring high-interest debt from one another lender with a lower interest rate and better repayment policies.

The Punjab and Sind Bank Takeover Of Collateralised Education Loans Scheme can be availed at an interest rate of 1Year MCLR + 1.50% spread. Punjab and Sind Bank also gives a 0.50% concession in the interest rate for girls.

How To Apply For Punjab and Sind Bank Education Loan

Punjab and Sind Bank Education loan aims to provide financial help to students planning to pursue their graduation, post-graduation, or specialization in any professional or technical courses. To avail of the Punjab and Sind Bank Education Loan, given below are the steps that you need to follow:

Visit Dialabank for an education loan, or you can go directly to Punjab and Sind Bank on Dialabank.
After going on the page, you can fill in your personal and employment details.
Once you submit that form, our customer relationship manager will get in touch with you.
They will further assist you in the loan approval process.
You can get your education loan approved within no time.
To know more, you can give a call on 9878981166.